US Capital Advisors Downgrades Equitrans Midstream (NYSE:ETRN) to Hold

US Capital Advisors lowered shares of Equitrans Midstream (NYSE:ETRN) from an overweight rating to a hold rating in a report released on Monday, Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley dropped their price target on shares of Equitrans Midstream from $13.00 to $12.00 and set an overweight rating for the company in a research report on Thursday, February 22nd. Barclays lifted their price target on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an equal weight rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $13.00 price target on shares of Equitrans Midstream in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $11.19.

Equitrans Midstream Stock Up 2.6 %

Equitrans Midstream stock opened at $13.44 on Monday. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50-day moving average is $11.94 and its 200-day moving average is $10.57. The firm has a market capitalization of $5.86 billion, a PE ratio of 14.93, a P/E/G ratio of 1.80 and a beta of 1.93. Equitrans Midstream has a fifty-two week low of $4.65 and a fifty-two week high of $14.21.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.57% and a net margin of 31.69%. The business had revenue of $364.27 million during the quarter, compared to analysts’ expectations of $345.79 million. During the same quarter last year, the company posted $0.22 earnings per share. Equitrans Midstream’s quarterly revenue was down 3.2% on a year-over-year basis. Sell-side analysts anticipate that Equitrans Midstream will post 0.87 earnings per share for the current year.

Equitrans Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.47%. Equitrans Midstream’s dividend payout ratio (DPR) is currently 66.67%.

Hedge Funds Weigh In On Equitrans Midstream

A number of institutional investors and hedge funds have recently made changes to their positions in ETRN. Cambridge Investment Research Advisors Inc. boosted its position in shares of Equitrans Midstream by 5.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company’s stock worth $312,000 after purchasing an additional 1,635 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Equitrans Midstream by 23.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,988 shares of the company’s stock worth $862,000 after acquiring an additional 17,287 shares during the last quarter. Strs Ohio raised its holdings in shares of Equitrans Midstream by 38.9% in the 3rd quarter. Strs Ohio now owns 52,800 shares of the company’s stock worth $494,000 after acquiring an additional 14,800 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Equitrans Midstream by 0.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 189,541 shares of the company’s stock worth $1,689,000 after acquiring an additional 1,681 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Equitrans Midstream by 5.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,129,822 shares of the company’s stock worth $38,696,000 after acquiring an additional 197,463 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.

About Equitrans Midstream

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.